Wal-Mart Optimistic for Holidays After Strong Q3

Wal-Mart Stores is optimistic about its prospects for the holiday season, based on financial results for the third quarter ended Oct. 31, Lee Scott, president and chief executive officer, told investors yesterday.

BENTONVILLE, Ark. β€” Wal-Mart Stores is optimistic about its prospects for the holiday season, based on financial results for the third quarter ended Oct. 31, Lee Scott, president and chief executive officer, told investors yesterday.

β€œIt is our time, and we have momentum from the third quarter,” he said during a prerecorded conference call.

Net income rose 9.8% to $3.1 million in the quarter and 11.3% to $9.6 million for the nine-month period, while sales rose 7.5% to $97.6 bi

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